I am trying to transfer to a different school in the fall and I received fin aid. I got a scholarship for good grades and the sophomore loan. I still have a difference that I cannot afford to pay. My parent applied for the plus loan and it was received to me which was only 4,000. I’ve also heard that the plus loan can pay the difference that I don’t have. Is that true ? If so how do I get more from the plus loan? Do I need to have my parent apply for it again?
Are you sure you have this right? The Plus loan can be up to the COA after all other sources are subtracted, so if your parents were approved for the Plus loan, it should be up to the COA. If they were denied, then the Student’s Stafford loan is increased by $4000. Is that what happened? If so, the $4000 increase is the max.
Yes, My parent was denied so that means I was given an extra 4000. So there is no other way I can get more than the maximum of $4000?
$4,000 is the maximum increase in the direct stafford loan for a freshman/sophomore in the case of a PLUS loan denial.
No there isn’t is your parent can’t qualify to borrow. How short are you?
Is your current school more affordable?
How much more do you need for the second school?